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Atul Ltd | Annual Report 2013-14
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NOTE 27.10 LOANS AND ADVANCES IN THE NATURE OF LOANS
Particulars
Amount outstanding as at
Maximum balance during the year
March 31, 2014 March 31, 2013 2013-14
2012-13
(i) Subsidiary Company:
Ameer Trading Corporation Ltd
4.12
3.76
4.12
7.69
Atul Bioscence Ltd
4.30
4.30
4.30
4.30
(ii) Associate Company:
Amal Ltd
14.88
14.88
14.88
14.88
(iii) Loan to other:
Atul Club
1.42
1.42
1.42
1.42
Notes:
(a) No repayment schedule for (iii)
(b) Loans given to employees as per the policy of the Company are not considered.
NOTE 27.11 EMPLOYEE BENEFITS
Funded schemes
(a) Defined benefit plans:
Expenses recognised for the year ended on March 31, 2014 (included in Note 24)
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cr)
Particulars
2013-14
2012-13
Gratuity
Gratuity
1 Current service cost
1.92
1.75
2 Interest cost
3.30
3.08
3 Expected return on plan assets
(3.62)
(3.17)
4 Employer contribution (receipt)
–
–
5 Actuarial losses | (gains)
(0.46)
2.94
Expenses recognised in Statement of Profit and Loss
1.14
4.60
Net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2014
1 Present value of defined benefit obligation
41.79
41.32
2 Fair value of plan assets
41.79
41.32
3 Funded status {surplus | (deficits)}
–
–
Net assets | (liabilities)
–
–
Reconciliation of net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2014
1 Net assets | (liabilities) at beginning of the year
–
(0.66)
2 Employer expenses
1.14
4.60
3 Employer contribution
(1.14)
(3.94)
Net assets | (liabilities) at the end of the year
–
–
Actual return on plan assets
3.68
3.46
Actuarial assumptions
1 Discount rates
9.29%
8.00%
2 Expected rate of return on plan assets
8.70%
8.76%
3 Expected rate of salary increase
7.00%
7.00%
4 Mortality post-retirement
Indian Assured
Lives Mortality
(2006-08)
Ultimate
Indian Assured
Lives Mortality
(2006-08)
Ultimate
Major category of plan assets as a % of total plan
1 Unit linked insurance plan of various private insurance companies
approved by IRDA
74.29%
88.98%
2 In approved Government securities
25.71%
11.02%
Notes
to the Financial Statements